Homework Answers
Answer:
| Date | Account title and explanation | Debit | Credit |
| Jan. 15 | Notes receivable | 219 | |
| Equipment | 211 |
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Multiple Choice Question 208 The accountant for Metlock, Inc. should have recorded the following correct entry:...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3....
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
lacul Assignment Gradebook ORION Downloadable eTextbook 2001/ 2101) ignment CALCULATOR s FULL SCREEN PRINTER VERSION 4...
lacul Assignment Gradebook ORION Downloadable eTextbook 2001/ 2101) ignment CALCULATOR s FULL SCREEN PRINTER VERSION 4 BACK NEXT. Brief Exercise 15-02 During January, its first month of operations, Coronado Company accumulated the following manufacturing costs: raw materials $5,400 on account, factory labor $6,100 of which $5,900 relates to factory wages payable and $200 relates to payroll taxes payable, and factory utilities payable $2,500 Prepare separate journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
Concord's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These...
Concord's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March Mar. 1 Stockholders invested $68,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $42,800 cash. The price consists of land $24,300, building $9,730, and equipment $8,770. (Record this in a single entry.) s Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
Problem 11-04A a-b (Part Level Submission) (Video) The following payroll liability accounts are included in the...
Problem 11-04A a-b (Part Level Submission) (Video) The following payroll liability accounts are included in the ledger of Concord Company on January 1, 2020. FICA Taxes Payable $780 Federal Income Taxes Payable 1,205.00 State Income Taxes Payable 105.00 Federal Unemployment Taxes Payable 300.00 State Unemployment Taxes Payable 1,930.00 Union Dues Payable 880 U.S. Savings Bonds Payable 395 In January, the following transactions occurred. Jan. 10 Sent check for $880 to union treasurer for union dues. 12 Remitted check for $1,985.00...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 4-02A (Part Level Submission) Len George started his own consulting...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 4-02A (Part Level Submission) Len George started his own consulting firm, George Consulting, on June 1, 2022. The trial balance at June 30 is as follows. GEORGE CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7,000 1,997 3,720 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Uneared Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,997 8,300 4,000 1,175 $39,742 $39,742 In addition...
BURUNUN gnment CALCULATOR PRINTER VERSION BACK NEXT Question 17 On January 1, 2020, Crane Company had...
BURUNUN gnment CALCULATOR PRINTER VERSION BACK NEXT Question 17 On January 1, 2020, Crane Company had Accounts Receivable $136,700, Notes Receivable $33,600, and Allowance for Doubtful Accounts $23,000. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Crane Company prepares financial statements annually at December 31. During the year, the following selected transactions occurred. Jan. 5 20 Feb. 18 Apr. 20 30 May 25 Aug. 18 25 Sept. 1 Sold $28,400 of...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31,...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31, 2022 Credit Debit $15,940 3,270 690 4,810 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,810 2,790 1,840 11,490 0 500 9,200 4,000 920 $30,130 $30,130 Assume the following adjustment data. 1. Supplies on hand at October 31 total $540. Policy | 2000-2020 John Wiley & Sons,...
TULL SCREEN PRINTER VERSION 4 BLACK NEX Problem 3-03A Demello & Associates records adjusting entries on...
TULL SCREEN PRINTER VERSION 4 BLACK NEX Problem 3-03A Demello & Associates records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2021: 1. Demello has a $13,200,6% note receivable with a customer. The customer pays the interest on a monthly basis on the first of the month. Assume the customer pays the correct amount each month. 2. Demello pays its employees a total...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
lacul Assignment Gradebook ORION Downloadable eTextbook 2001/ 2101) ignment CALCULATOR s FULL SCREEN PRINTER VERSION 4 BACK NEXT. Brief Exercise 15-02 During January, its first month of operations, Coronado Company accumulated the following manufacturing costs: raw materials $5,400 on account, factory labor $6,100 of which $5,900 relates to factory wages payable and $200 relates to payroll taxes payable, and factory utilities payable $2,500 Prepare separate journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
Concord's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March Mar. 1 Stockholders invested $68,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $42,800 cash. The price consists of land $24,300, building $9,730, and equipment $8,770. (Record this in a single entry.) s Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
The following financial information is for Cullumber Company Cullumber Company Balance Sheets December 31 2020 2019 ASsels $ 70,000 $ 64,000 Cash Debt investments (short-term) 39,000 53,000 90,000 Accounts receivable 108,000 162,000 229,000 Inventory Prepaid expenses 25,000 30,000 130,000 Land 130,000 185,000 264,000 Building and equipment (net) $884,000 $695,000 Total assets Liabilities and Stockholders' Equity $172,000 $102,000 Notes payable 65,000 51,000 Accounts payable 41,000 41,000 Accrued liabilities 250,000 172,000 Bonds payable, due 2023 202,000 Common stock, $10 par 202,000 127,000...
Problem 11-04A a-b (Part Level Submission) (Video) The following payroll liability accounts are included in the ledger of Concord Company on January 1, 2020. FICA Taxes Payable $780 Federal Income Taxes Payable 1,205.00 State Income Taxes Payable 105.00 Federal Unemployment Taxes Payable 300.00 State Unemployment Taxes Payable 1,930.00 Union Dues Payable 880 U.S. Savings Bonds Payable 395 In January, the following transactions occurred. Jan. 10 Sent check for $880 to union treasurer for union dues. 12 Remitted check for $1,985.00...
CALCULATOR FULL SCREEN PRINTER VERSION Problem 4-02A (Part Level Submission) Len George started his own consulting firm, George Consulting, on June 1, 2022. The trial balance at June 30 is as follows. GEORGE CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7,000 1,997 3,720 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Uneared Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,997 8,300 4,000 1,175 $39,742 $39,742 In addition...
BURUNUN gnment CALCULATOR PRINTER VERSION BACK NEXT Question 17 On January 1, 2020, Crane Company had Accounts Receivable $136,700, Notes Receivable $33,600, and Allowance for Doubtful Accounts $23,000. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Crane Company prepares financial statements annually at December 31. During the year, the following selected transactions occurred. Jan. 5 20 Feb. 18 Apr. 20 30 May 25 Aug. 18 25 Sept. 1 Sold $28,400 of...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31, 2022 Credit Debit $15,940 3,270 690 4,810 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,810 2,790 1,840 11,490 0 500 9,200 4,000 920 $30,130 $30,130 Assume the following adjustment data. 1. Supplies on hand at October 31 total $540. Policy | 2000-2020 John Wiley & Sons,...
TULL SCREEN PRINTER VERSION 4 BLACK NEX Problem 3-03A Demello & Associates records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2021: 1. Demello has a $13,200,6% note receivable with a customer. The customer pays the interest on a monthly basis on the first of the month. Assume the customer pays the correct amount each month. 2. Demello pays its employees a total...
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